New Issue: Pemex sells Ps. 10 billion in two tranches on Wednesday

By Reshmi Basu

New York, Oct. 19 - State oil-company Petroleos Mexicanos (Pemex) said it sold Ps. 10 billion or $1 billion equivalent in two tranches on Wednesday.

Pemex sold Ps. 4.5 billion of 10-year bonds at 9.31%. The issue, decreased from Ps. 5 billion, was 2.7 times oversubscribed.

The second tranche included Ps. 5.5 billion of six-year bonds, which priced at 91-day Cetes plus 35 basis points. The issue, increased from Ps. 5 billion, was 3.4 times oversubscribed.

Issuer: Petroleos Mexicanos (Pemex)

Total amount: Ps. 10 billion

Auction date: Oct 19

10-year bond

Amount: Ps. 4.5 billion

Maturity: 2015

Yield: 9.31%

Six-year bonds

Amount: Ps. 5.5 billion

Maturity: 2011

Yield: 91-day Cetes plus 35 basis points

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